In The NewsA Letter to the Editor by Bob Thomas, Tabor's president - "Help is here"SUNDAY NEWS I read with interest Michelle Singletary's column, "Beware red flags of debt reduction," in the Business section Jan. 4. At a time when many are searching for help with crushing consumer debts, it is not surprising to see growth in the number of for-profit debt settlement companies promising to help individuals reduce their debts in exchange for considerable fees. Our experience tells us the caution Singletary recommends in using these firms is on target and timely. Sometimes overlooked is the availability of consumer credit counseling through nonprofit organizations such as Tabor Community Services here in Lancaster. Unlike debt settlement companies, nonprofits have no financial incentive when working with their clients. Because their operating revenues come primarily from sources other than client fees, charges to clients are either nominal or waived. The holistic approach nonprofits use when working with clients also goes well beyond debt settlement and is designed to help them learn how to manage their finances over the long haul. Tabor has been successful in counseling county residents experiencing housing and financial difficulties for the past 40 years and in the past year assisted 700 families with credit problems and helped them repay $2.7 million in debt. -Robert Thomas, president, Tabor Community Services |
